Category: Economics

Folly or catalyst? Part 3, “Something Downtown Stockton can be proud of”

15 May, 2015 (10:00) | Affordable Housing, California, CalPERS, Cities, Development, Economics, Housing, LIHTC, Municipal bankruptcy, Redevelopment, Stockton, Tax credits, US News | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith As we saw yesterday, Stockton’s economic decline became possible to arrest only with bankruptcy and its slashing of liabilities, which made the city once again creditworthy and which also enabled it to rejoin the community of municipal entities reinvesting in their […]

Folly or catalyst? Part 2, “With bankruptcy being over”

14 May, 2015 (10:00) | Affordable Housing, California, CalPERS, Cities, Development, Economics, Housing, LIHTC, Municipal bankruptcy, Redevelopment, Stockton, Tax credits, US News | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith As we saw yesterday, the economic decline of downtown Stockton has spanned several decades, and as the city’s finances worsened, the downtown – which ought to have been the engine of economic revival – rusted. Sources used in this post Stockton Record (September 17, 2014) Stockton […]

Folly or catalyst? Part 1, “I bought strong locks”

13 May, 2015 (11:21) | Affordable Housing, California, CalPERS, Cities, Development, Economics, Housing, LIHTC, Municipal bankruptcy, Redevelopment, Stockton, Tax credits, US News | No comments

By: David A. Smith A dying downtown is unspeakably depressing.  Property’s decay and death is painfully slow and painfully visible: fading signs, drawn blinds, leaves and scraps huddled in doorway corners, sun-bleached shingles and paint, all of them say, Nobody cares about this place.  Stockton — Attorney Jacob Loyal Benguerel became a pioneer of sorts […]

Creditor of deadbeats = deadbeat debtor: Part 2, Your creditors can’t handle the truth

6 March, 2015 (10:02) | Economics, Eurozone, Finance, Global news, Government, Greece, Grexit, Recapitalization, Sovereign bankruptcy, Speculation, Taxation, Theory |

[Continued from yesterday’s Part 1.] By: David A. Smith Yesterday’s Part 1 reporting on the continuing psychodrama that is Greek insolvency established that Greece’s inability to pay its sovereign debt stems, at least in large part, from its inability to collect taxes Greek laws say its citizens owe. Nor does the Eurozone’s glib formulation – […]

Creditor of deadbeats = deadbeat debtor: Part 1, Bad debt and bad paper

5 March, 2015 (10:00) | Economics, Eurozone, Finance, Global news, Government, Greece, Grexit, Recapitalization, Sovereign bankruptcy, Speculation, Taxation, Theory |

By: David A. Smith No sooner had I written People value a government they pay taxes for than confirmation of the thesis was forthcoming, in the form of facts, new to me (which is definitely my oversight), that make Greece’s prospects in the Eurozone even worse than I had previously thought. We’re readying the tax-evasion […]